Optus’ Own Goal

“As crazy as this sounds, I don’t believe they realised how big the FIFA World Cup demand would be.” Technology commentator Trevor Long In 2015, Optus won the exclusive rights to broadcast the English Premier League through its streaming service.  This was a shock to both Fox Sports and BeIn Sports who had put in […]

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Shareholders before customers – nothing can go wrong

During the Banking Royal Commission, we have heard evidence of appalling behaviour by Australia’s major banks and financial planners from the past decade, including alleged bribery, forged documents, repeated failure to verify customers’ living expenses before lending them money, and selling insurance to people who can’t afford it. In one example, ANZ admitted at the royal commission that […]

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Proportionality is the Key

I have discussed the importance of controls and their effectiveness to the risk management process in many forums including Risk Tip #2- Control Effectiveness.  It is still my belief that the management of risk cannot be effective unless an organisation understands not only what controls are in place, but, more importantly, how effective they are. […]

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Risk Tip # 10 – Post Event Analysis

Risk Tip # 10 – Post Event Analysis “We learn from history that we do not learn from history.”  Georg Wilhelm Friedrich Hegel No matter how well an organisation manages risk, there will still be occasions where incidents occur i.e. risks are realised.  In organisations without a well-structured risk management program, these events will likely […]

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Colonel – we have a problem

In mid-February KFC announced that it was shutting the majority of its stores across the UK and Ireland due to, of all things, a chicken shortage that was caused by the introduction of a new delivery contractor, that had taken over from an established food distributor that had worked with the fried chicken brand for […]

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Risk Tip # 9 – Describing Risk Treatments

I love reading risks treatments in risk registers – they are always so descriptive.  Some of the treatments I have taken from risk registers over time are shown below: better communication; training in contract management; rolling fraud audit program; additional physical security; more management oversight and action; better change management; and/or recruit additional staff. increased […]

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